FARMINGTON -- Joe Bailey, charter president of Farmington Area Chamber of Commerce, was honored with a life-time membership at the annual chamber banquet last week and Prairie Grove Telephone Co., was named 2013 Business of the Year.
Bailey "hit the ground running" and took on the challenge to form and organize a chamber of commerce organization for Farmington, said chamber board member Tommy Cornwell in announcing the lifetime membership. Bailey served as chamber president for 11 years.
Cornwell said the chamber Board of Directors voted to make Bailey a lifetime member "and I don't know of any higher honor we could give him."
Bailey gave his appreciation for the award.
"Though I may have put in a lot of time on this, I enjoyed it all," Bailey said.
Jodi Hendricks, Farmington chamber president, gave out the Business of the Year award to Dale Reed with PG Telco. Hendricks, who works in the technology department for Farmington schools, said she is partial to PG Telco because her job revolves around the internet.
"They've been serving this area for over 100 years," Hendricks said. "There's not anything they won't do to help someone out."
Reed, in accepting the award, said the company has enjoyed its relationship with Farmington and looks forward to finding new ways to serve the community, particularly through its live-streaming capabilities.
The chamber banquet, held at Farmington Baptist Church on Main Street, opened with a comedy act performed by Farmington High drama students.
Featured speaker Bill Fox, a consultant with Arkansas Small Business and Technology Development Center, addressed about 50 people and told of free services available through the center for those interested in starting a new business or needing help with an existing small business.
The center, located at University of Arkansas, considers itself a "small cog in the machine of economic development," Fox said. "We cover a wide range of entrepreneur activities."
Fox has worked in the banking business and also owned two small businesses, one in Miami, Fla., and one in Philadelphia, Penn., and said he draws on personal experiences in helping others.
The development center provides assistance in developing a business plan, marketing a business and making a business viable.
"The key is preparation," Fox said. "There are no guarantees of success but by planning and preparing you increase the likelihood of success."
He said he also tells business owners to "run your business like you are going to sell it" by keeping strong, accurate financial records.
Other resources available at the center include market research, access to data bases and training seminars, such as how to build a website or how to apply for patents and trademarks.
A small business is "all about trust," Fox said. "What any small business is doing is solving people's problems."
He said most small businesses succeed because they find a niche and meet a need not being addressed.
"You can't compete with a large company with a tremendous amount of resources so find your niche, exploit that and leverage it as much as you can," Fox said.
Fox and his family moved to Farmington about six years ago from Miami. He said he has lived in many large cities but his favorite place is northwest Arkansas.
General News on 04/16/2014